Hispania acquires four office buildings and two hotels in Madrid

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Hispania Activos Inmobiliarios, through its subsidiary Hispania Real SOCIMI, has acquired a portfolio of four office buildings and two hotels in Madrid from IDL Group.

The transaction amounted to EUR42.15 million, fully disbursed with Hispania’s own funds.

The acquired office buildings are located close to the A1 motorway, in the north of Madrid, and have a gross leasable area of 14,547 square metres, plus 387 parking spaces.

All four buildings are of recent construction, have an average occupancy of 71 per cent and are located within consolidated business complexes and areas with ample growth potential. The acquired assets are the Arcis Building and Talos Building, both situated in Las Tablas and nearby the new BBVA headquarters, a building at Av. Bruselas in Arroyo de la Vega, and a fourth one situated within the complex Poeta Rafael Morales in San Sebastián de los Reyes.

The hotel portfolio includes the NH Pacífico, a 3* hotel with 62 rooms in Avenida Ciudad de Barcelona, and NH San Sebastián de los Reyes, a 3* hotel with 99 rooms and located within the Poeta Rafael Morales business complex. Both hotels are currently operated by NH Hoteles under long-term rental contracts.

Concha Osácar, board member of Hispania, says: “Thanks to this acquisition, Hispania continues consolidating its presence within the office segment by investing in high-quality office buildings in the secondary business centre of Madrid as well as strengthening its hotel portfolio with two hotels operated by the renowned Spanish chain NH Hoteles.”

With this transaction, Hispania has already invested EUR262.8 million out of the EUR550 million raised in its IPO on 14 March, and is building a portfolio which already includes a gross leasable area of 84,307 sqm in office space, predominantly in Madrid and Barcelona, 213 dwellings in Barcelona and 3 hotels, one of them in Marbella and the other two in Madrid.